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CHELSEA TIGHTEN SCOLARI'S PURSE STRINGS

Scolari: No New Year bargains

Tuesday November 11,2008

By Tony Banks

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LUIZ FELIPE SCOLARI was last night handed a stark warning by Chelsea that he will have to sell before he can buy in the January transfer window, as chief executive Peter Kenyon said the credit crunch was hitting even football’s richest clubs.

Chelsea owner Roman Abramovich has seen more than £11.75billion of his assets wiped out by the stock market crisis in the last six weeks and Kenyon revealed last night that Scolari would be hit hard. Chelsea have already made 15 of their 35 worldwide scouts redundant in stringent cost-cutting measures, and Scolari has been told that funds for players will be strictly limited in January.

Kenyon’s words put the chief executive on a collision course with his Brazilian manager, who has said he wants to bring

in possibly two players at the turn of the year. Scolari definitely wants another forward, having failed to sign Brazilian Robinho in the summer.

But Kenyon last night claimed Scolari is happy with the situation, when he said: “It is extremely unlikely we will spend in January and increase our squad. Felipe is on board with that.

It is extremely unlikely we will spend in January

chief executive Peter Kenyon

“He has an excellent squad and he is doing a great job. We would have to sell someone if we decided to bring someone in to balance that situation, but at this stage we are not planning to bring anyone in. We have an agreed squad size of 24. January is a notoriously bad time to buy, it tends to be panic buys.

“You have to recognise that the environment is different. We are not immune. We need to invest continually, but not at the levels we used to.

“We want to develop our own talent. Anything we do will be against the backdrop of a need to, rather than a desire to, like we reacted by bringing in Mineiro after Michael Essien’s injury.” Scolari has overseen £18m worth of sales, including Shaun Wright-Phillips to Manchester City for £9m and Steve Sidwell to Aston Villa for £5m.

Full-back Wayne Bridge, winger Florent Malouda, keeper Carlo Cudicini and defender Branislav Ivanovic could be offloaded if Scolari is forced to sell. He has been linked with cut-price moves for Michael Owen and Thierry Henry.

Chelsea owe around £736m to their creditors, with £578m of that owed to Abramovich, but Kenyon said: “Chelsea are not in the same position as other clubs. We pay no interest on our debt.”